There is an urgent need for a more decentralized support base, as far as this memecoin is concerned.
- Will Shiba Inu hit the coveted 1 cent-level? Analysts are on the edge, speculating on the possibilities For this ambitious target to become a reality, two key conditions must change
Right now, analysts are focused on predicting the next psychological targets for every major coin. Memecoins, with their inherent volatility, are often analyzed through the lens of how other cryptocurrencies are performing.
Shiba Inu [SHIB] is no exception. With a promising Q1 ahead, fueled by expectations of Bitcoin breaking higher highs, analysts are speculating on SHIB’s long-term price target.
Will Shiba Inu hit 1 cent anytime soon?
Looking at SHIB’s daily chart, it’s easy to see why bullish sentiment is strong. After the election cycle, SHIB saw a major bull rally, marked by seven consecutive green candlesticks.
A correction was inevitable after a 27% surge in a single day. And yet, despite some profit-taking, the bulls quickly regained control, preventing a downturn. This resilience bodes well for SHIB, especially since it is a memecoin.
Priced at $0.00003030 (at the time of writing), SHIB seemed to be approaching its late-March resistance level, making the next few days crucial for its short-term trajectory. If it breaks through this level, it could signal further gains. Otherwise, a pullback may be in store.
In the long term, however, it will take more than erratic daily price movements to push Shiba Inu into the 1 cent category.
With over 580 trillion SHIB tokens held in whale wallets, their influence on SHIB’s price remains the most consequential.
Source : IntoTheBlock
Interestingly, whale interest in SHIB remained relatively stagnant for six months until the “Trump pump” a month ago. This sudden surge in whale activity highlighted how strategically timed their positions are.
So, unless the broader market sentiment enters an extreme greed phase, it’s hard to assume intense accumulation by whales. This would cast some doubt on Shiba Inu’s one-cent target, at least in the near future.
Basic psychology reveals key insights into SHIB’s potential
Memecoins like SHIB thrive on speculation, which makes them prone to wild price swings. While SHIB’s internal efforts —such as token burnings, community initiatives, and DAO proposals—help fuel excitement, it’s the external forces that truly drive its future.
Whale activity plays a huge role in SHIB’s price action. The big players holding the largest stakes have the power to move the market, often overshadowing community-driven efforts that fuel short-term hype.
For SHIB to see long-term success, two key drivers typically take center stage – A surge in enthusiasm from large HODLers or a Bitcoin crisis that forces investors to adjust their portfolios, including meme tokens, for fast gains.
Is your portfolio green? Check the Shiba Inu Profit Calculator
Take the current situation, for example – While Bitcoin has struggled since hitting its all-time high of $104k, SHIB has been riding high on a wave of whale activity, posting daily gains of over 5% and fending off a pullback.
This is a sign of the massive influence external forces—particularly whales—have on SHIB’s price movement.
So, unless SHIB can create a more decentralized base of support, pinpointing when it might reach the elusive 1-cent mark remains anyone’s guess.
Take a Survey: Chance to Win $500 USDT
Next: Why is Bitcoin down? Profit-taking, quantum fears drag BTC
Source